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Empresaria reports revenue up 5% in constant currency, Americas up 12%

August 22, 2018

Empresaria Group plc, a London-based staffing firm with international operations, reported revenue rose 5% in constant currency to £178.3 million (US$ 201.2 million) in the half-year ended June 30 compared with the same period last year. In the Americas region, revenue rose 11.7% to £21.0 million (US$ 23.7 million).

For the company overall, net fee income edged up 1% in constant currency to £34.0 million (US$38.4 million). The group said labor legislation in Germany and Japan that resulted in higher pay rates and limits on the length of temporary working contracts held back net fee income. Specifically, the changes led to a reduction in temporary worker numbers the group’s German logistics and Japanese IT operations.

In the Americas, the group’s business in Chile reported growth mainly from the permanent and temporary recruitment divisions. In the US, the group reported positive results from Pharmaceutical Strategies — its Boston-based staffing company placing pharmacy benefit managers — with the business continuing to make progress in diversifying its service lines and building up its client base. ConSol Partners, a specialist IT recruitment group targeting the communications and mobile sectors, also saw a significant improvement against the prior year.

Empresaria noted strong performances in India’s Offshore Recruitment Services (ORS) business; with professional services in the UK; in the group’s business in Chile; and in the recent investments in ConSol Partners, Rishworth Aviation and Pharmaceutical Strategies.